Despite heavy regulation surrounding the sector, former Mirvac Group chief Greg Paramor says that his new group is looking at property in retirement along with childcare, healthcare and aged care.

"We are cautiously going into those areas," he said. "If I was doing anything now it would be in the mid to upper end.”

The group typically makes acquisitions in the $50m bracket. "In retirement, you have to be mindful of what you're buying," he added. “The demograph is a major consideration.”

Due to a capital undersupply in that part of the market, Mr Paramor said Folkstone was keen to buy more properties for its social infrastructure fund.

The group recently purchased Austock's Property Funds Management business and is also partnering on a residential development in Karratha in Western Australia. Folkstone has $600m worth of real estate under its control.